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Egypt’s New Generation Development has launched its 75-acre L'HIVER project in New Alamein city.
Company chairman Assem Fadel told Zawya Projects that the project features 400 units, comprising chalets, twin houses, town houses; a commercial and entertainment complex, clinics, an 80-key five-star hotel, and Roland-Garros-branded tennis academy.
Fadel didn’t disclose the project value but said the company is targeting sales revenue of 4 billion Egyptian pounds ($207 million).
He added that KAD has designed the project while French company Groupe Foncier De France will manage the property.
General Manager Ehab Labib added that construction will start before the end of 2022 with completion scheduled by the end of 2025.
(1 US Dollar = 19.36 Egyptian Pounds)
(Reporting by Eman Hamed; Editing by Anoop Menon)
